The South African investment fund New Europe Property Investments (NEPI) and Ovidiu Sandor will be developing a major new office complex in Cluj-Napoca. The project will be develop on the former site of Tricotaje Somesul factory with a total area of 52,000 sqm.
The office building will also include retail space.
Work on the first phase of the complex will start this year and is to be completed in early 2014. Funding of this stage will be provided exclusively from internal sources. The developers have already begun the process of collecting permits and licenses for construction. The whole project will be delivered in 2015.
This new project is expected to become the largest Class A office complex outside Bucharest and one of the largest investments made in recent years in the country for this segment, according to Wall-Street.ro.
